SBI vs HDFC Savings Account — Which is Better in 2026?
SBI savings account interest rate is 2.70% vs HDFC at 3.00%. HDFC pays ₹300 more per year on a ₹1L balance. However, consider fee waivers and digital features before choosing.
Last updated: April 6, 2026
SBI
2.70%
Savings interest p.a.
HDFC
3.00%
Savings interest p.a.
✓ Better dealSBI vs HDFC Savings Account — Detailed Comparison
| Feature | SBI | HDFC |
|---|---|---|
| Savings Rate | 2.70% | ✓3.00% |
| Processing Fee | Free (zero balance BSBD) | ₹150/quarter if avg < ₹10,000 |
| Eligibility | Any Indian resident, NRI (with NRE/NRO) | Any Indian resident, NRI (with NRE/NRO) |
Savings Rate
SBI
2.70%
HDFC
3.00%
Processing Fee
SBI
Free (zero balance BSBD)
HDFC
₹150/quarter if avg < ₹10,000
Eligibility
SBI
Any Indian resident, NRI (with NRE/NRO)
HDFC
Any Indian resident, NRI (with NRE/NRO)
Verdict
HDFC pays a higher savings account interest rate (3.00%) vs SBI (2.70%). Small finance banks and neo-banks often pay 6-7%, but larger banks offer better branch networks and fewer service charges. Choose HDFC if you prioritise return on idle cash; choose SBI if you need a full-service relationship bank.
Frequently Asked Questions
Which savings account gives more interest — SBI or HDFC?+
HDFC currently offers a higher savings rate (3.00%). SBI pays 2.70% and HDFC pays 3.00%. On a ₹1L balance, the difference is ₹300 per year.
What are the minimum balance requirements for SBI vs HDFC savings account?+
SBI: Any Indian resident, NRI (with NRE/NRO). HDFC: Any Indian resident, NRI (with NRE/NRO). Failure to maintain minimum balance results in a penalty deducted from your account.
Can I open a savings account in SBI or HDFC online?+
Both SBI and HDFC offer video KYC-based digital account opening. IDFC First, Kotak, and Yes Bank are fully app-based. SBI and PNB may require a branch visit for full KYC accounts.
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Disclaimer: Interest rates shown are indicative as of April 2026 and subject to change without notice. Actual rates depend on your credit score, income, and bank policy. This is for informational purposes only and does not constitute financial advice. Always verify rates with the bank before applying.